New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The GCC activated carbon market is expected to grow from USD 133.9 Million in 2022 to USD 286.9 Million by 2033, at a CAGR of 7.1% during the forecast period. The growth of the market is driven by the increasing demand for activated carbon in water treatment, air purification, and other applications.
Executive Summary
The GCC (Gulf Cooperation Council) activated carbon market is experiencing substantial growth driven by increasing environmental concerns, industrial applications, and stringent regulations on air and water quality. This report offers a detailed analysis of the market, highlighting trends, growth drivers, challenges, and future prospects.
Introduction
Activated carbon, known for its exceptional adsorption properties, plays a crucial role in diverse applications ranging from air and water purification to gas separation and industrial processes. The GCC region is witnessing a growing demand for activated carbon as environmental consciousness and industrial requirements escalate.
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Market Overview
The GCC activated carbon market is on an upward trajectory, fueled by factors such as urbanization, industrial expansion, and the need for sustainable solutions to address environmental pollution.
Market Drivers
The growth of the GCC activated carbon market is driven by a number of factors, including:
- The increasing demand for activated carbon in water treatment: Activated carbon is used in water treatment to remove impurities such as chlorine, organic compounds, and heavy metals. The increasing demand for clean drinking water is driving the demand for activated carbon in water treatment.
- The growing demand for activated carbon in air purification: Activated carbon is used in air purifiers to remove pollutants such as dust, pollen, and smoke. The increasing air pollution levels in the GCC region is driving the demand for activated carbon in air purification.
- The increasing demand for activated carbon in other applications: Activated carbon is also used in a variety of other applications, such as food and beverage processing, cosmetics, and pharmaceuticals. The growing demand for these applications is also driving the demand for activated carbon.
Market Challenges
The growth of the GCC activated carbon market is challenged by a number of factors, including:
- The high cost of activated carbon: Activated carbon is a relatively expensive material. This can be a barrier to adoption for some businesses.
- The availability of substitutes: There are a number of substitutes for activated carbon, such as ion exchange resins and activated alumina. This can limit the growth of the market.
- The volatility of the raw material prices: The price of the raw materials used to produce activated carbon, such as wood and coconut shells, can be volatile. This can impact the profitability of the activated carbon industry.
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Competitive Landscape
Key players in the GCC activated carbon market include:
- Cabot Cooperation
- Donau Carbon GmbH
- JACOBI CARBONS GROUP
- Calgon Carbon Cooperation
- Fujairah Chemical
- NTC Dubai
- DUBI CHEM Marine International
- Veolia Water SA
- Carbon Activated Cooperation and many more
Recent Developments
here are some recent developments of companies in the GCC activated carbon market,
- Kuraray Carbon launched a new line of activated carbon products for water treatment in 2023. The new products are designed to remove a wider range of impurities from water, making them more effective in improving water quality.
- Chemviron Carbon acquired Jiangsu Sunrise Chemical in 2023. Jiangsu Sunrise Chemical is a leading provider of activated carbon products in China. This acquisition will help Chemviron Carbon expand its market share in China.
- Calgon Carbon Corporation acquired Norit in 2022. Norit is a leading provider of activated carbon products. This acquisition will help Calgon Carbon expand its product portfolio and reach a wider market.
- Cabot Corporation expanded its production capacity for activated carbon in 2022. The expansion is expected to meet the growing demand for activated carbon in the GCC region.
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Market Segmentation
The GCC activated carbon market can be segmented based on various factors:
- Application - Water Treatment, Air Purification, Gas Separation, Industrial Processes, Pharmaceuticals, Food and Beverage, Others
- Type of Activated Carbon - Powdered Activated Carbon (PAC), Granular Activated Carbon (GAC), Extruded Activated Carbon, Impregnated Activated Carbon
- Environmental Initiatives - The GCC region is witnessing initiatives to enhance environmental sustainability, which is driving the adoption of activated carbon for pollution control and resource management.
- Regional Analysis- The market landscape varies across GCC countries due to differences in industrialization levels, urbanization, and regulatory frameworks.
Market Opportunities
The GCC activated carbon market offers a number of opportunities for businesses, including:
- The growing demand for activated carbon in water treatment: The increasing demand for clean drinking water is creating an opportunity for businesses to supply activated carbon to the water treatment industry.
- The growing demand for activated carbon in air purification: The increasing air pollution levels in the GCC region is creating an opportunity for businesses to supply activated carbon to the air purification industry.
- The growing demand for activated carbon in other applications: The growing demand for activated carbon in other applications, such as food and beverage processing, cosmetics, and pharmaceuticals, is creating an opportunity for businesses to supply activated carbon to these industries.
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